California Governor Gavin Newsom just signed an executive order that bans appointed state officials with insider information from betting on prediction markets. This order expands existing ethics rules to ensure state appointees can’t use nonpublic information to get rich, or help their family members get rich, through these kinds of bets.
Newsom’s office first teased the announcement on X, jokingly asking popular prediction market platforms like Kalshi and Polymarket to “get odds for this.” Per Politico, Newsom then took a not-so-subtle jab at Trump in a statement, “At a time when President Trump’s Washington is riddled with ethical failures and insider profiteering, California is drawing a bright line.”
